Sigma Planning Corp Buys 35,114 Shares of First Majestic Silver Corp. $AG

Sigma Planning Corp boosted its stake in shares of First Majestic Silver Corp. (NYSE:AG) (TSE:FR) by 238.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,849 shares of the mining company’s stock after purchasing an additional 35,114 shares during the quarter. Sigma Planning Corp’s holdings in First Majestic Silver were worth $1,071,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wealthspire Retirement LLC lifted its stake in shares of First Majestic Silver by 1.4% in the fourth quarter. Wealthspire Retirement LLC now owns 32,450 shares of the mining company’s stock worth $541,000 after buying an additional 450 shares during the last quarter. Harbour Investments Inc. grew its stake in First Majestic Silver by 2.9% in the 4th quarter. Harbour Investments Inc. now owns 24,656 shares of the mining company’s stock valued at $411,000 after buying an additional 697 shares during the last quarter. Orion Porfolio Solutions LLC grew its stake in First Majestic Silver by 3.0% in the 4th quarter. Orion Porfolio Solutions LLC now owns 24,999 shares of the mining company’s stock valued at $416,000 after buying an additional 718 shares during the last quarter. AdvisorNet Financial Inc raised its holdings in First Majestic Silver by 13.2% in the 1st quarter. AdvisorNet Financial Inc now owns 6,878 shares of the mining company’s stock worth $148,000 after acquiring an additional 804 shares during the period. Finally, Moors & Cabot Inc. raised its holdings in First Majestic Silver by 2.8% in the 3rd quarter. Moors & Cabot Inc. now owns 35,295 shares of the mining company’s stock worth $434,000 after acquiring an additional 945 shares during the period. Institutional investors and hedge funds own 27.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AG. HC Wainwright decreased their price target on shares of First Majestic Silver from $30.75 to $26.00 and set a “buy” rating for the company in a report on Friday, July 10th. Scotiabank dropped their price objective on First Majestic Silver from $23.00 to $22.50 and set a “sector perform” rating on the stock in a research note on Tuesday. Weiss Ratings cut First Majestic Silver from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, June 5th. Zacks Research downgraded First Majestic Silver from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Finally, ATB Cormark Capital Markets raised First Majestic Silver from a “hold” rating to a “moderate buy” rating in a research report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.50.

First Majestic Silver Trading Down 0.4%

Shares of AG opened at $15.82 on Friday. First Majestic Silver Corp. has a 12-month low of $7.74 and a 12-month high of $32.03. The company has a quick ratio of 2.54, a current ratio of 2.73 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $7.80 billion, a price-to-earnings ratio of 26.36 and a beta of 0.91. The stock’s 50-day moving average price is $18.49 and its 200 day moving average price is $20.86.

First Majestic Silver (NYSE:AG) (TSE:FR) last announced its quarterly earnings data on Tuesday, May 12th. The mining company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.02). First Majestic Silver had a return on equity of 11.19% and a net margin of 19.51%.The firm had revenue of $476.67 million during the quarter, compared to the consensus estimate of $522.00 million. During the same quarter in the prior year, the business posted $0.05 EPS. First Majestic Silver’s revenue was up 95.3% compared to the same quarter last year. As a group, research analysts predict that First Majestic Silver Corp. will post 0.8 earnings per share for the current year.

First Majestic Silver Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Wednesday, May 20th were paid a $0.0171 dividend. The ex-dividend date was Wednesday, May 20th. This is a positive change from First Majestic Silver’s previous quarterly dividend of $0.01. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.4%. First Majestic Silver’s dividend payout ratio is currently 11.67%.

About First Majestic Silver

First Majestic Silver Corp. (NYSE:AG) engages in the production of silver from its wholly owned operations in Mexico. Headquartered in Vancouver, British Columbia, the company focuses on acquiring, developing and operating high-grade silver projects. Established in 2002, First Majestic has built a multi-mine portfolio to supply silver primarily for the global industrial and investment markets while generating by-products such as gold, lead and zinc concentrates.

First Majestic’s principal operations are located in the historic Mexican Silver Belt, with producing mines including La Encantada in Coahuila, Santa Elena in Sonora and La Parrilla in Durango.